Reader Question: Is it illegal if a real estate agent has a grandmother purchase a home for them when they are not going to move in the home? They had their grandmother sign all papers as though she was buying the home, and the money came from the agent. There was no mortgage needed. They then […]

Reader Question: I live in a city of about 300,000 people where real estate prices are high. There is a short supply of both low and mid-priced homes here. The situation is complicated further with a shortage of affordable rentals. However, there is an ample vacant land supply surrounding the area. Improved lots sell for anywhere from […]

Reader Question: I purchased a home from a contractor. It was a carriage home that was a model for the developer. The home had an in-law suite over the garage. I obtained a standard mortgage to purchase the home, including an appraisal and title insurance. In 2011, I was going to refinance the home only to […]

Reader Question: Hi, I’m trying to buy a piece of land from a private owner. Apparently he got the property at auction several years ago. My title company found an unsatisfied mortgage from 27 years ago. It seems that the company that held the loan had gone out of business. No information can be found […]

Reader Question: Monty, I found a home I loved, but it was under contract. The market seems more competitive, but I have a decent real estate agent. Because the market seems tougher, I wonder how to get into the foreclosure market. If you have any advice here, I will appreciate your thoughts. Bridgette S. – […]

Reader Question: Monty, I read your 10 Myths article. Do you have a list of top 10 tips for homebuyers?  Mason T. – Nashville, TN Monty’s Answer: Hello Mason, that is a good question. Here is a Top 10 list I created as a response. I have linked each tip to additional information for you. […]

Reader Question: Monty, we have a family member whose home is underwater. They owe $114,000 on the mortgage with a monthly PITI payment of $890.00. They paid $119,000 for it. Here, is the problem. They are divorcing, and his wife has moved out of the house. A local agent has estimated the home will sell today for between $75,000 and $90,000. Our […]

Reader Question: Does the possibility of a lower price of a trustee sale out weigh the risks of a unusually quick decision without the normal due diligence process? – Rich V. Phoenix, AZ Monty’s Answer: Hello Rich, thanks for asking the question. There is no cut and dried answer, but I will do my best. […]

Reader Question: Dear Monty, you write a lot about the myths and misinformation in real estate. Do you have a “Top 10 real estate myths” kind of thing for that stuff? – Jason S. Chicago, ILL Monty’s Answer: Hello Jason, Thanks for asking. It is an insightful question. Here is a list of the “Top […]

Knowing how real estate works Real estate defined in law is an “immovable object” with a legal description that defines its space and place in our geography. A Registered Land Surveyor is a person with specialized knowledge on measuring and documenting land parcels according to the law.  As the United States has grown, most every […]

The goal of this website is educating you about how to manage buying or selling a home. As a buyer, you might say to yourself, “What is the big deal? Let us jump in the car and start looking. It is pretty easy”. If you are a seller, you may say, ” I will call […]

What You Do Not Know Can Hurt You Most of us coming into the real estate market today are searching for information. We tend to look for information about homes, neighborhoods and financing. Consumers  do not always ask the right questions  because they do not know which questions  to ask. Conversely,  agents do not realize […]

The Law Says.. Federal law requires that all people be treated equally and prohibits discrimination in the housing industry throughout the United States. The law also applies to mortgages, insurance and rental housing. The Federal Fair Housing Law makes discrimination  illegal against individuals based on their sex, age, race, color, sexual orientation, religion, national origin, […]